20 Jun

NAEA: Plenty of buyers looking for property

NAEA: Plenty of buyers looking for property

The latest National Association of Estate Agents (NAEA) monthly housing market survey shows there are "buyers a-plenty", according to president of the group Gary Smith.

He said that "more often than not" these individuals are also potential sellers who are at the beginning of the moving process.

Mr Smith's comments come as the NAEA revealed that the average estate agent in the UK sold ten properties in May - the same figure as last month and a 30 per cent increase year-on-year.

Additionally, the average branch was found to have 299 house hunters on its books during the month, which was 52 and 34 more than the numbers reported in May 2008 and April 2009 respectively.

Figures from the professional body for UK estate agents also showed that the average branch had 69 properties on its books last month.

"With mortgage interest rates at historically low levels and prices now far more realistic than in previous years, home ownership in the UK seems to be set to lead the way out of the recession," said Mr Smith.

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